ATI Inc. (NYSE:ATI) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC boosted its holdings in ATI Inc. (NYSE:ATI) by 59.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,182 shares of the basic materials company’s stock after acquiring an additional 4,562 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in ATI were worth $634,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of ATI in the fourth quarter worth about $618,000. Thrivent Financial for Lutherans increased its stake in ATI by 41.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 137,820 shares of the basic materials company’s stock valued at $7,586,000 after acquiring an additional 40,079 shares during the period. Xponance Inc. boosted its holdings in ATI by 15.5% during the fourth quarter. Xponance Inc. now owns 5,406 shares of the basic materials company’s stock valued at $298,000 after purchasing an additional 724 shares in the last quarter. Magnetar Financial LLC acquired a new stake in ATI during the fourth quarter valued at approximately $239,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in ATI by 14.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,452 shares of the basic materials company’s stock valued at $1,676,000 after purchasing an additional 3,848 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Citigroup upgraded shares of ATI to a “positive” rating in a report on Tuesday, May 20th. Benchmark reaffirmed a “buy” rating and issued a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Susquehanna boosted their price target on shares of ATI from $73.00 to $105.00 and gave the company a “positive” rating in a research report on Monday, July 14th. Finally, BTIG Research set a $105.00 price objective on shares of ATI and gave the company a “buy” rating in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and an average price target of $87.29.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the completion of the transaction, the chairman owned 356,538 shares in the company, valued at approximately $29,924,234.34. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 195,359 shares of company stock worth $15,103,486. 1.10% of the stock is owned by insiders.

ATI Stock Performance

Shares of ATI stock traded down $0.94 during trading hours on Tuesday, hitting $91.89. 523,659 shares of the company were exchanged, compared to its average volume of 2,025,720. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $93.99. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average of $82.91 and a 200-day moving average of $65.05. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.25 and a beta of 1.13.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.